+0.70(+0.06%)

+0.00(+0.01%)

+0.00(+0.03%)

Morgan Stanley's Dara Mohsenian cuts his rating on Clorox to underweight from equal weight and slashed his price target to $116 a share from $128. Mohsenian says some of the challenges Clorox faces are pricing pressures and a shift away from "large established brands towards smaller brands" by consumers. Given these factors, "we believe consensus expectations for CLX are too high on both organic sales growth and gross margins over the next few years," Mohsenian notes.